The Directorate General of GST Intelligence (DGGI), Ahmedabad, has unearthed a fake Input Tax Credit (ITC) racket worth over Rs 63 crore and arrested a Delhi-based company director. According to officials, Bhavesh Sahni, director of Yoke Payment India Private Ltd, was arrested on April 2. The company allegedly passed on fraudulent ITC of Rs 63.21 crore by issuing invoices for services that were never provided.
The probe found that the scam involved transactions with a taxable value of Rs 351.19 crore. Under GST norms, businesses can claim credit for tax paid on purchases. In this case, however, ITC was availed on the basis of fake invoices with no underlying supply of goods or services.
Investigators said the firm issued bogus bills to multiple entities, enabling them to reduce tax liability. Simultaneously, it carried out genuine services such as mobile recharges and bill payments but failed to issue valid tax invoices for these transactions.
Sources said e-top-up transactions worth over Rs 728 crore, involving tax exceeding Rs 111 crore, were routed through the company, with a significant portion suspected to have been suppressed. A case has been registered under Section 132(1)(b) of the CGST Act, a non-bailable offence. If convicted, the accused faces up to five years in prison.
Source from: https://www.ahmedabadmirror.com/rs-63-cr-fake-gst-credit-scam-busted/81911284.html
